On the Peer2Profit platform users sell unused bandwidth which helps them to earn passive income from computer. Each user who decides to try to make money selling bandwidth is concerned about the safety of using the connection being sold.
For World Standards Day on October 14, we have prepared an article about KYC (“know your customer”) and AML (“anti money laundering”) standards. They are used on our platform when choosing bandwidth buyers to ensure the security of user data.
How did the day of standards appear?
First, let's understand what a standard is. A standard is a set of norms for a physical object, technical or social process. Sometimes a standard is perceived as an instruction on how to make an object, how it will turn out in the end. For example, technology standards with which you sell unused bandwidth.
The application of standards increases the safety of all spheres of human activity and ensures the uniformity of product quality and conditions of use, regardless of the region of production. For example, a vaccine made to the same standards is equally safe and provides protection against infections, no matter which factory it is made in. Control over the creation and compliance with standards is carried out at various levels: from the local standard to the enterprise to international standards.
The International Organization for Standardization (ISO) is the highest level of standards creation. The organization was founded on October 14, 1946 in London (Great Britain) by an international delegation, which was attended by representatives of 25 countries. The name was not chosen by chance: the founders of the organization wanted to make sure that the original meaning would not be lost during the translation. Plus, the abbreviation ISO is close in pronunciation to the Greek "isos" — "equal", which also reflected the role of the organization.
In 1970, the organization's president, Farouk Santer, proposed marking the date of ISO's creation as International Standards Day to highlight their importance. Often the holiday is held under some kind of motto, for example, in 2016 "Standards create trust." And this slogan, in our opinion, successfully reflects the importance of KYC and AML standards.
What are KYC and AML standards?
When a user of the Peer2Profit starts making money selling bandwidth, part of the network connection is used by our corporate clients to solve business tasks. To ensure the security of user data, we apply KYC and AML standards.
During KYC activities, we collect and verify information about the client. First of all, the following data is collected:
- organization name,
- official credentials,
- purpose of bandwidth purchase.
We request additional information about the client's partners, company history and other data if necessary.
KYC standards are part of the AML activities.
AML, or "Anti-Money Laundering", defines the standards for combating financial crime, in particular money laundering. Money laundering is the process of transferring criminally obtained funds into the legal sphere through fraudulent transactions and financial reports. Accordingly, control over financial documentation and legality of receipt of funds is the basis of AML.
To comply with AML standards, the Peer2Profit recognizes the following list of purposes for which bandwidth purchases are acceptable:
- collecting data from publicly available sources;
- search engine optimization of sites;
- advertising analytics;
- comparison of prices for analogues of competitors;
- detection of plagiarism of content, logo or other brand elements.
Our platform systematically monitors bandwidth usage. If companies use bandwidth for legitimate purposes, but they were not listed in the customer information, we block access. Such measures ensure that users earn passive income from computer legally.
In this way, KYC and AML standards really create user and corporate customer trust in our platform.
If our users are interested in somehow celebrating World Standards Day, we invite you to find out for yourself what standards are used for any other processes in everyday life, whether it be mobile communications or the production of an A4 sheet.
If you have questions about how to sell unused bandwidth, check out other articles on our blog or contact support.